Expanding reach across the Atlantic
CVC, which is based in Jersey in the Channel Islands, said the acquisition will significantly expand its European lending capabilities while boosting assets under management in its credit unit by about €61 billion ($72 billion).
Rob Lucas, CVC’s chief executive, said the strategy has been clear.
“Expanding credit capability in the U.S. to complement our market-leading European platform has been a clear priority for CVC,” Lucas said.
Leadership continuity at the top
Marathon co-founders Bruce Richards and Lou Hanover will continue to lead the combined firm’s credit strategies. Richards will jointly manage the merged credit business alongside Andrew Davies, head of CVC Credit.
Richards described the tie-up as a force multiplier.
“CVC’s global reach and its investment insights across multiple asset classes and geographies will deliver a powerful partnership,” he said.
Advisors and closing timeline
Freshfields LLP and Fried Frank Harris Shriver & Jacobson LLP are advising CVC on the transaction. Sidley Austin LLP is serving as legal counsel to Marathon.
The deal remains subject to regulatory approvals, though the companies did not specify which authorities must sign off. The parties said they expect the transaction to close by September.
As CVC to acquire Marathon moves toward completion, the deal underscores a broader trend: private equity firms are stitching together global credit platforms, betting that size, scale and cross-border reach will define the next era of alternative lending.
